Murdoch: News Corp. e-reader 'not likely'

Is News Corp. (NWS) developing its own rival to the Kindle, or isn't it? Earlier this year, chairman Rupert Murdoch revealed that the company was in talks to invest in the development of an e-reader along the lines of Amazon's popular device. And as recently as today, TheStreet.com, which interviewed Murdoch last week, was still reporting that a News Corp. e-reader was "a year or two" from becoming reality.

But on Fox Business Network today, he seemed to change his tune in answer to a question about whether News Corp. is "getting into the hardware business as opposed to just purely the content business."